All Episodes
Previous Next
June 28, 2022 - Health Ranger - Mike Adams
01:02:55
Andy Schectman warns of imminent, INSTANT collapse of the dollar's global reserve status
| Copy link to current segment

Time Text
What moves inverse of hyperinflation?
Interest rates.
Interest rates go to the moon.
Now, OPEC's two, three, and four collapse like dominoes.
Stocks, bonds, and real estate, all at the same time as the dollar collapses, all because OPEC says we're going to take oil and other currencies, and the world dumps dollars.
Now the Fed does not have to be the one that ignites the fuse.
The Fed will blame The BRICS nations, they'll blame Russia, they'll blame China, they'll blame OPEC, they'll blame Saudi Arabia, they'll blame them all, and the dollar evaporates like that.
And everything collapses as interest rates spike, and you have a villain.
And if you want to talk about a great reset and how it happens, well, that's exactly how it happens.
And that's how close we are to it.
Welcome to this finance section here on the Health Ranger Report today on Brian Tien.TV.
We're joined by the CEO of Miles Franklin, Andy Sheckman.
This is his second visit with us.
He kind of left us hanging the first time with a little teaser about a progression of events that he believed would lead to the great reset that's going to wipe out the assets of a lot of people.
So we're going to continue with that conversation today.
It's going to be fascinating.
We're also going to get into maybe a little bit of discussion about crypto versus precious metals, what's happening in the markets, and why do the globalists seem to want to reset failed fiat currencies every once in a while, leaving the vast majority completely impoverished while all the assets leaving the vast majority completely impoverished while all the assets go into the hands of the few, huh?
That's an interesting pattern in history that seems to repeat itself, and we may be on the verge of that happening right now.
So stay with us here on Brighttown.tv.
We'll be right back with Andy Sheckman, the CEO of Miles Franklin.
Stay with us.
All right, welcome back, folks.
Mike Adams here, Brighteon.tv, and we're joined now by Andy Sheckman, the CEO of Miles Franklin, which is a precious metals retailer, gold and silver dealer in America.
And Andy has been traveling recently, which is why we couldn't get him back until today.
But Andy, thank you for joining me today.
I'm glad you had a safe journey, and you're back, and we're ready to rumble here.
Great to be here, Mike.
Thanks.
It's been a long few weeks, to say the least, but it's good to be home and it's great to be on your show.
So thanks for having me back.
Well, absolutely.
And let me ask you first, from your travels, I know that time away from the news and time away from the computer and everything often results in a lot of revelations, kind of a bigger picture perspective.
Did something like that happen to you while you were on your trip recently that you want to share?
You know, honestly, I don't know that it did.
I mean, since February of 2020, let me start it this way.
In 2020 and 2021, whatever happened to this industry, it's very difficult to even explain what happened to this industry.
And I found myself working 16 to 18 hours a day, seven days a week.
Without fail.
And this was, you know, when COVID started, I literally 18 hours a day, seven days a week.
Wow.
It's been a blessing.
It's also been the hardest work I've ever done in my whole life over the last three years.
So it was just...
It was a needed respite.
And I had planned a trip to Scotland with seven of my old buddies from high school.
We were all turning 50 years old at the same time.
Paid for it in 2019.
We were going to go in May of 2020.
We all know how 2020 turned out.
2021, it got postponed again.
And this was...
You know, almost over three years in waiting, my oldest friends in the world.
And so it was for the first time in probably 20 years that I took a vacation.
I've been all over the world.
Whether I've been in the Bahnhofstrasse in Switzerland or a beach in Jamaica or rainforest in Panama, I'm always on the phone.
And I'm never really taking a vacation.
I'm always working.
And so, you know, it's kind of a running joke with my family.
Oh, Andy's on the phone again.
It was the first time I can remember in over two decades where I just unplugged.
And so the revelation, if any, Mike, was that it's important just to unwind a little bit.
And I came back, you know, I felt like a different person, rested.
And maybe the revelation was that I need to take care of myself a little bit too along the way because it's easy.
When you've been doing something as long as I have, almost 33 years, to get wrapped up in this wave of craziness and not be able to come up for air.
Thanks for sharing that with us.
Very, very interesting experience.
Because so many people in the world are going through this intensity, and there's a sense of desperation.
There's a sense that time is running out, and there's so many attacks on our way of life.
People wondering, where am I going to get food?
How am I going to afford gasoline?
What's happening to the value of the dollar?
Is the dollar even now a reliable store of value, right?
I mean, you and I know it isn't, but that thought is occurring to mainstream people now.
So one of my questions to you is, what are you seeing in the changes of the kinds of people who are contacting you interested in precious metals, let's say, or the things that they are saying?
What are you noticing, let's say, today versus two or three years ago?
The biggest thing is people don't trust the banks.
I want to get my money out of the banks.
And I think there is an awareness now inflation is hitting people in ways that no one really our age, this entire generation has ever experienced.
And so People are concerned and afraid, but yet, you know, the average, if you took the entire allocation of precious metals from Joe Sixpack to the Harvard Endowment Fund and everything in between, the allocation to the U.S. matrix of financial assets is one-half of 1%.
Now, the average over the last 40 years is 2.5%, the high being 8% in 1980, the mean being 2.5%.
So, you know, if all we did was get back to the mean, to the average, you're looking at a five-fold increase in demand, and I don't know that this industry could handle that.
But those that are talking to us, and it has been a much greater expansion into the mainstream, they're concerned about mostly leaving their money in dollars.
They're aware of the erosion to inflation, and they're also very concerned about leaving it in the banks.
And I think there's a belief, and rightfully so, that leaving your money in the bank, you're not being compensated nearly enough in terms of the poultry interest rate you're receiving for the risk associated with leaving it into a bank that most of which are completely over leveraged and you're not being compensated nearly enough in terms of the poultry interest rate you're receiving We're leaving it into a bank that most of which are completely over-leveraged and under-capitalized, you know, during 2020 crisis.
COVID banking revisions, they were allowed to basically have zero in the way of capital reserves.
And so most of these banks have next to nothing in terms of reserves and quite a bit of exposure to leverage and to debts into an economy that maybe isn't such a great place to have that exposure.
So people are concerned.
I'm really glad you brought that up because people don't consider the counterparty risk of banks.
And ever since Glass-Steagall was repealed, banks have just been gambling in the casino, basically just like hedge funds.
But another major event happened while you were on vacation or on your trip, however you want to characterize it.
It was the crypto meltdown.
The crypto contagion really spread.
So, you know, we had the Terra Luna meltdown.
That was, you know, a couple of months ago, I think.
Then we had the Celsius meltdown.
That happened recently.
Basically a bail-in at Celsius.
Like, your deposits are now our assets, right?
And that was a wake-up call.
And then we've had the Three Arrows crypto hedge fund now apparently becoming insolvent.
At least that's what it seems like at the moment.
So what happened?
The Hong Kong-based babble.
Oh, right.
Just recently.
Same exact thing as Celsius.
They've stopped allowing withdrawals.
And they're the same type of company that leverages.
They pay you return for a non-interest-bearing Bitcoin asset at 4% or 5%.
That means they're probably making double that.
So they're doing something speculative with it, risky.
And now those chickens are coming home to roost.
This is a scary situation.
That's what I wanted to ask you about because, you know, Bitcoin had been promoted for quite a number of years as digital gold and a store of value.
And I think that debate is over at this point because I saw that 72 of the top 100 Crypto coins have lost 90% of their value, or at least that's what it was roughly about a week ago at the bottom.
It's recovered slightly since then.
But what do you think people need to understand about what is a store of value and what is counterparty risk in the world of crypto versus banking and precious metals?
Yeah, well, I mean, cryptocurrency, Bitcoin is...
It's a speculative asset.
And I don't even think it's really a great store of value.
I mean, it's made people wealthy because they wanted to get rich.
The difference is that people buy gold because they're afraid of the system.
Now, you can say people were buying cryptocurrency and most people were buying cryptos to get rich.
And a lot of people did get rich.
That's usually not the same mentality with precious metals.
And I think when you see the CEO of Coinbase, the publicly traded largest crypto exchange in the United States, come out and say, if you leave your coins on our exchange and we go bankrupt, you're going to lose them.
We came out and said that publicly a few weeks ago.
If that doesn't underscore counterparty risk, if you are going to own cryptocurrencies, you need to hold them in your own possession.
And, you know, we've had a good number of clients recently have to sell all of their gold holdings with us because they borrowed against their Bitcoin and they're getting margin called.
And this is a problem where, you know, this is what Celsius is.
This is what Babbel is.
These are exchanges that are leveraging cryptocurrency and You know, the counterparty risk is immeasurable.
People didn't ever think that these exchanges could go upside down, but they are.
And, you know, when you're not allowing redemptions, that's another way of saying you're insolvent and you want to avoid a run on the system because the system can't handle a run because the system is over leveraged and under capitalized.
They lend out your Bitcoin.
They don't have it.
And so this is an issue.
And I think people will realize real quickly that gold has been a medium of or a store of value for 5,000 years.
Bitcoin is not.
Bitcoin is digital error.
It doesn't have a utility the way that gold does.
Now, gold isn't Used in industry quite the same way that silver is, but it doesn't matter.
Gold is needed.
It's needed in jewelry.
It's needed in manufacturing.
And the central banks own it.
You haven't seen the central banks accumulate large quantities of Bitcoin.
You are of gold.
Quite frankly, I think what will happen with Bitcoin is that If it begins to really continue to really lose momentum, you get a lot of these players, these hedge funds that have jumped in with both feet, they're going to run.
And when you start to see all of these withdrawals by the big players, which hasn't quite happened yet, and people trying to get out to salvage what they can, or worse yet, margin calls on people who have leveraged, I think you'll see real quickly the difference between Bitcoin and gold.
That doesn't mean there's not a A place for Bitcoin.
I mean, you want to own some Bitcoin as a speculative investment, fine, but I don't look at it even in the same vein as gold.
I think the people who own it bought it to get rich, Mike, not to pay for it against the fall of the dollar.
It's way too much speculation, but I hope crypto settles into the utility phase of its existence because it's really good at a few things.
Some of the privacy coins, for example, are good at making purchases without revealing your identity.
And I've purchased VPN services using privacy coins so that the VPN can't be traced back to my credit card, for example.
So that's pretty cool.
And, you know, it's a fast transaction and it can go international without going through the SWIFT system.
So, I mean, it's got advantages, but you're right.
It's got to come off of this bubble, tulip bulb mania nonsense before it's going to have any real credibility.
I mean, it needs to be boring, frankly.
It needs to be boring and stable.
Like, you wake up and it's worth the same every day.
And the speculators don't like that.
Why it can't be a store of value?
Because, I mean, it's hard for it to be a store of value.
You've seen what's happened to it where, you know, it was $70,000 a year ago or less, and here we are now at $19,000.
And so that volatility where it can lose 60%, 70%, 80%.
It's not a store of value, and it certainly isn't a medium of exchange.
There's no question that its acceptance rate has increased dramatically, but the question is, are the people who are using it, are they doing it to get rich also?
And I question the motive of the people who own it, and I think that if it doesn't perform the way that those people think, they'll be the first one to junk ship.
So you know how people in precious metals are often talking about the industrial uses of silver?
I mean, you talk about that.
You may not have known this, but I'm one of the industrial users of silver.
And this is a one millimeter thick silver plate.
And it's four nine silver.
And we use these at our operation to manufacture colloidal silver For a nasal spray, mouthwash, a first aid gel.
We mix this with certain herbs like essential oils and thickeners and things.
And so we buy a lot of silver and we sell a lot of silver in that form.
I mean, I'm essentially a silver retailer, but in the form of personal care products.
But did you ever think about industrial uses like People are buying silver in order to make colloidal silver products?
No, not directly.
I think that's one of the unique things about silver is its duality of demand, whereas most assets are singularly demanded, or most commodities are.
You have silver in an expansive array Of green and digital applications and healthcare, of course, in this case, and it's used across the gamut.
I mean, 500 ounces are used in the tip of every Tomahawk cruise missile.
But what makes it very intriguing is that it also has that the secondary demand of a renaissance in monetary demand.
And so you have a battle between the industrials and the investors.
And I think that will only get more acute as it becomes obvious that the above ground supply of silver is becoming harder and harder to obtain and scarcer and scarcer.
In fact, it's found right now coming out of the ground at a 7 to 1 ratio between gold to silver, yet it's priced at about 85 to 1.
It is arguably the most undervalued asset on the planet, one that has tremendous amount of uses.
And because it's found in nature in a form called epithermal very near the surface, the big deposits were found long ago.
So much so that only 35% of all the silver comes out of the ground right now is coming from companies that specifically mine silver.
Is that right?
Yeah, the other 65%, roughly somewhere in the neighborhood of 250 million ounces We're good to go.
A generational opportunity and value.
It's silver.
All assets are overblown.
Silver's under half of its all-time high.
It's twin peak, all-time high.
And yet, the uses for it are amazing.
Absolutely.
That it, aside from its monetary demand, is an asset that is, you know, should be strategic, should be priced much higher.
Well, that's a discussion for COMEX manipulation for another day.
We could talk about that for a whole episode.
But nonetheless, I think it's the most undervalued asset on the planet for sure.
Well, I agree with you.
And, you know, as I'm a user of silver, I know silver has intrinsic value because, you know, if anybody sudden, like if somebody's trying to offload silver, I'm buying because I can use it.
I can turn it into products or use it as a store of value.
I mean, what other thing or element can you buy that is both money, a store of value, and you can use it to make stuff?
That's the unusual part about it.
And that duality of demand is one of the most unique characteristics of it, one that I often talk to people about in most of the shows I do.
I talk about its duality and that in and of itself should help people understand that the demand is just increasing and that the price is make-believe as controlled by a couple of commercial banks on Comix.
Absolutely.
Okay.
Sorry about that little tangent, but I just wanted to show you that, because when you talk about industrial uses, that's real.
People use it all the time.
The progression of events that you wanted to get into now, and our audience has been waiting for a while, so walk us through that.
How do you think this is going to happen, the global reset?
Well, first I want to start with an assumption.
The assumption that I have, at least right now, as far as this assumption probably wasn't in place going back to 2017 where we'll start this progression, but the assumption that I'd like to make right now is that the Federal Reserve is really not serious about getting tough on inflation.
All right, so let me explain why and then from there I'll get into the progression because it's important.
So recently the National Bureau of Economic Research, they published a study and they said that the originally reported core CPI, the Consumer Price Index, in June of 1980 was 13.6%, but that would have only been 9.1% using the current formula for calculating the CPI. So Amazing.
All right, so we have a CPI right now, 9%.
So basically, we're 13.5% inflation, according to the way it was in 1980 before they changed the metrics, right?
In 1980, Paul Volcker raised the federal funds rate to 19.75% to kill inflation right in its tracks, and it did.
He got tough on inflation.
Our Fed isn't getting tough on inflation because, I mean, go back to even when they told us, well, okay, it's not transitory, it's structural, yet they continue to add to their balance sheet.
And you look at a federal funds rate, even though they raise it by a whopping 75 basis points, it's only 1.5%.
If the numbers are identical to what they are in 1980, and you could argue the indebtedness is so much worse than it was in 1980, Why are they only pussyfooting around by raising it three quarters of a percent or 75 basis points?
And why not raise it eight or 900 basis points or a thousand basis points?
Or in the case of Paul Volcker, 1900 plus basis points.
Why not?
And by raising the federal funds rate to To a level at least commensurate with the CPI numbers, even if they're lying at 9%, that's how you get tough on inflation.
And I think the reason they're not going to get tough on inflation is because they know that this massive folly of low interest rates and easy money has created massive distortions in asset prices.
And you have stocks, bonds and real estate at all time highs.
And, you know, you can see the destruction that rising interest rates will do if you look at the mortgage rates, even before they raise the rates three quarters of a percent last week or the week before.
Whenever it was a few weeks ago, the mortgage rates were above 6% with us with a 75 basis point federal funds rate.
So here we are at 1.5%.
You got the 30-year mortgage at about 6.25%, 6.5%.
That's double of what it was a year ago.
It's up 40% in the last six months.
Rates don't move like that.
Imagine what happens if they really get tough on inflation.
And they raise rates to commensurate level with inflation and put rates at 8% or 9% on the federal funds rate.
You're looking at mortgages of 14%, 15%.
What does that do to the real estate market?
It's called implosion.
What does that do to the bond market?
Where the Fed just came out the other day and said that their balance sheet is in negative equity.
That because of the rise in interest rates over the last...
You know, they're...
Their balance sheet is upside down.
And as rates rise, that's exactly what's going to happen to the markets if rates rise.
The bond market will implode, the stock market will collapse, and the real estate market will collapse.
The three pillars of wealth turn upside down.
So the premise that I would like people to think about is the Fed would rather have a villain and a scapegoat.
To do its dirty work for.
And I would like people to think in the back of their minds when Klaus Schwab said, there'll be a great reset, you'll owe nothing and you'll be happy.
When he first said that, I thought, what's this guy talking about?
There's no way that this could ever happen.
Well, let me show you a linear progression of events and you decide for yourself if it's possible or not.
And I think it is, unfortunately.
All right.
We'll start in 2017.
That's our starting point.
And in 2017, we were, you know, gold had moved up from 2000 to 2011, 11 years in a row of increases.
It was in a bull market.
It was up 10, 15% per year.
But from 2011 to 2017, it was in the midst of a pretty retrenched bear market.
And by 2017, you had Bitcoin taking off.
You had gold languishing.
You had the stock market doing very well.
You had people selling gold for the first time in my career, where 50-60% of every sale we did was people selling instead of buying.
And most of my career, it would represent one out of every couple hundred sales with someone selling back.
It's an industry where most of the time people don't sell back.
Of course, we provide that, but that's not something we were used to.
There were a lot of people capitulating in 2017, along with the central banks.
That whole period of time, I was seeing central banks relinquish their gold, and it just made no sense to me.
Like Gordon Brown, the head of the Bank of England, sold all of their gold in 2002.
Most of it at $250 an ounce, the worst possible time to dump their gold, and certainly it smashed down the price.
Anyways, suffice it to say, we saw even this Washington Accord where the banks agreed to only sell a certain amount of gold each year to not destabilize the price.
It was an issue of them selling their gold.
And, you know, it made sense to me subsequently why they were doing it.
At the time, it never did make sense to me, and I'll get into that in a moment.
So anyways, in 2017, in the midst of all of this selling and six-year bear market and stock market going up and crypto market going up, out of nowhere we hear the German Bundesbank say, listen, we've been asking for our gold back for some time now from the New York Federal Reserve.
We're going to start making a stink about it.
We want all of our gold back that you've been holding for all these years.
We want it back no later than 2020.
Well, it should have been able to be packed on a ship and off it went, but that's another story.
The bottom line is they made a big deal about it.
We go back and look at the stories in 2017 and you'll see German Bundesbank requests their gold to be sent back.
It actually made it to mainstream publications.
So within a few months of that happening, We saw other banks follow suit.
Austria, Hungary, Turkey, the Czech Republic, Poland.
All of these banks said the same thing, not only to the New York Fed, but to the Bank of England.
Give us back our gold.
And this was unusual to see these banks repatriating their gold at a period of time when central banks had largely been selling.
In 2018, the following year, Those same groups bought more gold as a group than they did in the Previous 60 years combined.
And it's interesting to note right now that a lot of these European countries that are part of the euro but have their own currency, like Hungary and Turkey and Poland and the Czech Republic, just in the last year, these countries have increased their gold holdings, most of them 10x or more.
So you have these same European countries who have been repatriating their gold or did repatriate their gold from the Bank of England and the New York Fed.
So can we assume from that that they are now coming to the understanding that there's counterparty risk or that perhaps the gold doesn't even exist in these vaults in the UK?
I think that's certainly part of it.
There's no question that's part of it, but I think you'll see where I'm going here in a minute.
There's more to it than that.
So, In 2019, the following year, those numbers were up 90% from the previous year.
And that previous year, they bought more gold as a group than they did in the 60 years combined.
So 2019, they almost doubled what they buy in 2018.
And then we get the first of the three biggest events of my career happening.
And that is that gold is reclassified as the world's only other Tier 1 reserve asset.
Let me say that one more time.
Gold has been levied from a Tier 3 asset to a Tier 1 asset, the only other Tier 1 reserve asset in the world, next to U.S. dollars and treasuries.
At the end of World War II, gold was a Tier 3 asset and the only Tier 1 asset in the world were dollars and U.S. treasuries.
No, wait, is that the BIS with that designation or who's making that designation?
National settlements in Basel, Switzerland was reclassified gold as a tier one asset.
This is the central bank or central bank.
Okay.
Bank of International Settlements.
So it's as if they told their cohorts, Germany, Austria, Hungary, Turkey, Czech Republic, Poland, all these countries, hey, We're going to be reclassifying gold tier one.
You ought to probably get it home and it wouldn't be a bad idea for you to start accumulating it.
They front ran this decision and, you know, the media does such a poor job of telling us about this.
How many people know That gold is a Tier 1 asset.
And the first question I would ask is, why the hell would they have done it with gold?
Most people thought if they ever did something this way, that it would be special drawing rights from the International Monetary Fund.
Why not use Euro?
Why not use Yen?
Why not use anything other but why gold?
You know, the reason the banks were selling gold prior to that was tier three asset, and which meant that only half of the value was calculated on the balance sheet.
And so, you know, the countries didn't have any incentive to own something that paid no interest, which denigrated the balance sheet and was volatile to a degree.
So they'd rather buy U.S. treasuries.
And this is kind of probably why that the whole banking system was set up with the tier three asset behind gold, because it would incentivize them to buy paper assets, to buy treasuries that paid a return that they didn't have to store, that were a little bit more predictable.
So anyways, now you see this drive to accumulate gold.
And so in 2019, they reclassify it Tier 1.
And then at the end of 2019, Here comes the second biggest event of my career that is really growing right now.
And that is the announcement of the Chinese Belt Road and Rail Initiative.
And for people out there who don't know what that means, because our media is so lame, that is the largest infrastructure project in human history ever attempted.
And it is connecting Asia and Africa.
It is connecting 75% of global population.
It is connecting 45% of global GDP before industrialization.
It is not just maritime channels, bridges, railways, and roads that are being connected.
It's also digitally connecting 75% of human population.
Think about the uses for silver in this infrastructure in its digital applications and connecting 7 out of 10 people or almost 8 out of 10 people, but also all of the channels that will be used in In the industry where silver will be needed, these roads, these bridges, these maritime channels, these flight routes will only be patrolled by military and traveled by commerce.
The United States is very conspicuously not part of the Belt Road Initiative, the largest, most robust infrastructure project in human history.
And guess what?
It is settling on the new Chinese digital yuan.
The digital yuan Has already done close to $10 billion in transactions since 2021.
Can we...
Pardon me?
Well, I want to interject.
Can we also say that the economic sanctions against Russia in March of this year have only accelerated Russia's embracing of trade with China and this entire initiative?
That's part of where I'm going with all this, believe me.
But at this point, we're still in The very early stages of the development of the Belt Road Initiative.
So 2020 rolls around and we see some interesting things.
We see the International Monetary Fund, which is a group that was formed at Bretton Woods at the end of World War II. It's about 190 plus countries around the world.
They come out publicly on their website and they say, we want a new Bretton Woods.
Bretton Woods was the event that anointed the dollar its World Reserve status, taking over from the pound sterling at the end of World War II. So you got 190 countries saying we want a new dollar stamp, a new system.
Whatever that may be.
We see a group of traders on the commodity exchange called the Others Arise.
Without getting too deep into the Comax market, which is where the commodities are traded, Typically, each week, the commodity exchange publishes a report called the Commitment of Traders Report.
And that report shows the positioning of the largest traders on the COMEX. And normally, it was always the commercial banks on one side and the speculators on the other.
No one ever took delivery off the COMEX. Maybe one out of every...
I don't know.
One or two percent of the contracts stood for delivery.
Most were just used as financial instruments.
And out of nowhere, we see this third group of reportables come on the Commitment of Traders report called the Others.
And these Others are believed to be sovereign wealth funds and family offices.
In 2020, they started to systematically drain the COMEX of its gold and silver.
In one year in silver deliveries, they took as much off the exchange as we would see in a decade.
In one year in 2020, they took as much gold off the exchange as the Bank of Japan has in its official holdings.
They've gotten a little bit more clandestine in the way that they're doing it now through something called Exchange for Physical, which is where they take a COMEX contract and send it to the London Metals Exchange and it's delivered to them there in a little bit more anonymity.
And they can take it, offload it that way without creating as much attention.
But the theme that we saw in 2020 for the first time ever that is parallel with the commercial banks taking possession and the central banks taking possession was the We see the central banks continuing to buy gold in 2020, no question about it.
We also see a proliferation of the Belt Road Initiative where it's growing and it's getting more robust and you start to see transactions being done on the new digital you want.
Now, a quick question.
On this Belt and Road Initiative, and I'm going to ask our editor to show a map because it's quite extensive, pretty amazing, you know, all the way from Beijing westward through central, through the Middle East, touching on Africa, even up into parts of Eastern Europe as well.
But Does that trade route, does this involve any kind of a free trade, like a no-tariffs type of arrangement among these nations, or is that not...
Sure, it does.
They're all part of the same group.
I can't say that for certainty, but I would find it to be incredibly counterproductive to not.
And so all the groups that sign on to the initiative, I'm sure, are all going to be incentivized.
It's all about commerce.
The whole root structure is about commerce and being patrolled by military to make sure it goes smoothly.
So yeah, and it gets deeper than that.
Wait until you hear what's going on right now.
So anyways, 2021 rolls around, and you see massive acquisition of gold.
Russia, Turkey, India, Poland, China, Kazakhstan, Hungary, Thailand, Japan, Brazil.
They're all buying gold, and they're using the COMEX price, the suppressed price, to run cover for de-dollarization.
September 2021 comes around.
Here's maybe the biggest event of all of our lives, in my opinion.
And I hope I'm wrong, but probably not.
Before I get to that, let me ask you a question, Mike.
What do you believe makes the dollar the world reserve currency?
Well, yeah, we've already been over this, but it's the Bretton Woods agreement that the dollar must be used by all countries to purchase petroleum products.
It wasn't Bretton Woods.
You're close, but you are right.
So the Bretton Woods agreement was that the dollar would be backed by gold.
And so what countries would do is they would give us their gold back then.
They would give us their gold and we would hold it for them and pay them dollars.
Right, right.
Good deal for us.
Well, because those dollars were always as good as gold, right?
And with those dollars, they would buy U.S. treasures, earning a return, which helped our indebtedness, right?
Helped us build our infrastructure.
So now they're getting a return on a stagnant asset.
They're not paying storage expenses.
They're not worrying about it.
And they have a more predictable rate of return.
And they would just keep rolling over the treasuries.
And if they ever wanted their gold back, they could exchange their dollars for gold.
And it was that way until 1971.
And the reason that that changed was that President de Gaulle from France realized that we were printing more dollars to fund the Vietnam War and issuing more treasuries than we had supposedly at Fort Knox backing it.
So he sent naval ships filled with dollars to New York Harbor demanding gold and got probably half of the gold held at the U.S. Treasury.
So Nixon closed the gold window in August of 1971.
It was supposed to only be temporary.
But he closed the gold window, going back on our promise since 1944 that we would redeem dollars for gold.
At that point, the dollar was completely fiat.
It was the arrangement that was struck in 1974 with Henry Kissinger and the Saudi Kingdom that anointed the dollar the petrodollar.
And that arrangement was, we will protect you, we will sell you ammunition and armaments, and we'll teach you how to use them, and we've got your back.
No one will ever mess with you, ever.
But for that, you will denominate oil globally in U.S. dollars, period.
And don't forget the United States promised to look the other way on Saudi Arabia's human rights abuses.
Oh, of course.
But for that privilege, OPEC would denominate oil globally in dollars.
And so since 1974, every country on the planet has had to own dollars in order to buy oil.
So from 1971 then, wasn't then America's fate sealed eventually?
Absolutely.
The dollar, if you look at the purchasing power since 1971, yeah, you can see exactly what happens when you render the currency completely fiat with the ability to print at will with nothing standing behind it, no governor, if you will.
And so it was the protection of the Saudi kingdom.
That has enabled the dollar to be World Reserve.
It's created this synthetic demand for dollars where every country on the planet has to buy it in order to buy oil.
Well, the day we left Afghanistan, and I think there's no coincidence to this timing, You know, we left Afghanistan in a terrible way.
We left our own people behind enemy lines and the people who trusted us behind enemy lines with their biometrics handed to the Taliban.
We left in a very un-American way.
The day after that, Russia announced a joint military cooperation agreement with Saudi Arabia.
Let me say that one more time.
Russia announced a joint military cooperation agreement With Saudi Arabia.
The day after that, Russia announced the exact same thing with Nigeria.
Nigeria is part of the Belt Road Initiative.
So now you have China and Russia protecting Nigeria and Russia protecting Saudi Arabia.
The day after that, Russia announced that they had hypersonic ICBM missiles, a technology the State Department later said they're very concerned about because we don't have it.
On all of their nuclear-powered submarines.
This was their way of saying, don't mess with us the way you did Saddam Hussein and Gaddafi.
Right, and let me add a couple of context points.
Correct me if I'm wrong, but number one, Nigeria is a major exporter of oil.
Number two, in all times.
There we go.
And then secondly, not only does America not have hypersonic missiles, but America has no air defenses against hypersonic missiles.
Right.
They travel up in the atmosphere at the speed, well past the speed of sound, and hit the ground at the speed of an asteroid.
They can't...
Mach 20 is what I read recently from the Russian, I think the U.S., NATO designates it the SS-29, but I think Russia calls it the YARS, Y-A-R-S, Mach 20.
So you're not going to intercept Mach 20?
No, and this is their way of saying don't even think about it.
This is a whole different game.
So, look...
Our protection of the Saudi Kingdom has given the dollar the world reserve status.
Ain't happening anymore.
We're not the only big guy on the block.
And so if you look at what has happened subsequently, Russia is now, excuse me, Nigeria is now selling its oil To China for Yuan.
They've agreed to do it.
Saudi Arabia has all but done the same thing.
It gets even deeper.
And the bond that China pays these countries in is a Yuan-denominated petro-Yuan bond, it's called.
That bond is immediately convertible into gold on the Shanghai Gold Exchange.
So these take their oil...
Like Iran, sell it to China for Yuan in a bond form that they can then immediately convert into gold and take possession of.
It's a cash and carry market.
It's really not a futures market.
So people buy it and take it.
That's why it's delivered over 90 times more gold, almost 100 times more gold than the COMEX has in the last few years.
So we see the dollar hegemony really being called into question when For the first time since 1974, OPEC nations are selling their oil To other countries in settlement for something other than U.S. dollars.
And so we can take it a step further and we'll get to how this all blows up in a minute.
Okay.
All right.
Hold on just a second, Andy.
First of all, time-wise, we only have about five minutes left because we're coming up on that.
But I also want to mention to the audience that People need to think about the ramifications of what you've just said, in that if the world abandons the petrodollar status, which is happening, you're just describing it, and especially given the fact that domestically the U.S. is printing trillions of dollars, which is devaluing the debt that's held by the countries that purchased the treasuries, then we might be just right on the verge of a global denouncing.
Let me tell you that.
Give me five more minutes and I'll put a bow on it.
Okay.
Okay.
All right.
Well, but we're thinking along the same lines.
Go ahead.
So here we are in 2022.
You have the St.
Petersburg International Economic Forum that's been going on right now.
And it is dealing with the coming of the new G8, four BRICS nations, Brazil, Russia, India, China, plus Iran, Indonesia, Turkey, and Mexico.
Their GDP and purchasing power already dwarfs the old Western-dominated G8. You have the Chinese three-ring strategy, which they're talking about, which is the geoeconomic relations with its neighbors and partners, Think the Belt Road Initiative, and the new BRICS Plus or extended BRICS, including some members of the new G8, to be discussed in the new upcoming summit.
You also have what just came out last week, the Russian-Iran-India corridor.
This is a new north-south transportation corridor that's now in play.
Think the Belt Road Initiative.
This is another part of it.
It's linking northwest Russia to the Persian Gulf via the Caspian Sea and Iran.
Everyone else has to go around the Suez Canal.
This is a really, really, really big deal.
Here again, you have all of these countries, these BRICS nations, Moving away from doing commerce with the dollar and trade routes, unilateral trade agreements, settling in other currencies and all of it usurping the dollar.
So what does all of this mean?
Put it all together.
You got gold being reclassified tier one.
190 countries from around the world saying we want a new system.
You have central banks gobbling up gold and repatriating it.
You have the BRICS nations all coalescing, and you have a digital yuan that has already done 10 billion in transactions with success.
The BRICS nations, Brazil, Russia, China, India, South Africa, they're the ones who own all the gold, produce all the gold.
They don't sell any of the gold.
They're the largest accumulators of it, and it's now tier one.
So how does this all bust apart?
OPEC says on a Monday morning, on a Sunday night, you know what?
We're being protected by our friends here in China and Russia.
We've decided it's in the world's best interest that we no longer only sell oil in dollars.
The minute that happens, think about it.
90% of the world has had to own dollars in order to buy oil, right?
So now all those dollars get dumped because they don't need to hold them anymore.
And it starts to really get dumped as the dollar becomes a hot potato.
So you have all of the world dumping dollars.
If you think inflation is bad now, wait till all those dollars come flooding home, creating massive hyperinflation.
There's peg number one.
The dollar collapses.
What moves inverse of hyperinflation?
Interest rates.
Interest rates go to the moon.
Now OPEC's two, three, and four collapse like dominoes.
Stocks, bonds, and real estate, all at the same time as the dollar collapses, all because OPEC says we're going to take oil and other currencies and the world dumps dollars.
Now the Fed does not have to be the one that ignites the fuse.
The Fed will blame The BRICS nations, they'll blame Russia, they'll blame China, they'll blame OPEC, they'll blame Saudi Arabia, they'll blame them all, and the dollar evaporates like that.
And everything collapses as interest rates spike, and you have a villain.
And if you want to talk about a great reset and how it happens, well, that's exactly how it happens.
And that's how close we are to it.
And the fact that Saudi Arabia is negotiating with China to sell their oil in yuan, the fact that Nigeria is already doing it, The fact that gold is now a tier one asset, all the central banks are buying it, all point to de-dollarization.
And when de-dollarization happens on a massive scale, and it's going to happen on a Sunday night, you're going to wake up on Monday morning and go, holy crap, what just happened moment.
And when that happens, it's like that, Mike.
There's your great reset.
There's your Klaus Schwab saying you'll own nothing and be happy because everything that is of any value in this country, the four pillars of wealth, dollars, stocks, bonds, real estate, in one swift moment, And how did it happen?
The weaponizing of the dollar.
Just like you said, you weaponize the dollar as the world reserve currency.
You cannot tell the world who can and can't use it by pushing Russia right into the open arms of China and their SIP system, the cross-interbank payment system, which mimics the SWIFT. We have created a moment where all these other countries are saying, huh, are we next?
It incentivizes them to move away from the dollar, and it's happening right now in front of our eyes.
Yeah, it's like fiscal suicide of the West.
I mean, it's just insane that they don't anticipate this.
But think about another thing.
The West has always printed its way out of previous crises.
But when this happens, right, you can't because you can't sell U.S. debt anymore after this happens.
The Federal Reserve comes in and buys it, and that's called monetization.
They come in and they buy the heck out of it like they're already doing, which then just erodes.
Then you're in the spiral.
It's more inflation.
So we're in this vicious loop.
And there is no easy way out.
And I think that's why the Fed...
Doesn't want to really get tough on inflation because if they do they blow everything up and if they don't It's hyperinflation.
So it's death by hyperinflation or death by the greatest depression.
And who wants to be responsible for lighting that fuse?
Much easier to call it Putin and the Chinese and the Arabs.
Well, that's what Richard Nixon did in 71.
He blamed the currency speculators for why he had to take us off the gold standard.
And what it was, was it was De Gaulle proving that convertible currencies convert.
And that's why I believe that this, what ultimately will happen.
And just today, yesterday, one last piece.
Just yesterday, get this.
I'm going to read you one thing.
And this puts a, this puts a exclamation point on, let me read this to you.
Just today, I got a note.
And it said...
You're going to like this.
And I'll let you go.
This is...
See that?
I don't know if you can see that.
Oh, wow.
Yeah, yeah, yeah.
I saw that news.
And he says that President Vladimir Putin said on Wednesday that the BRICS countries, Brazil, Russia, India, China, and South Africa, are currently working on setting up a new global reserve currency.
The issue of creating an international reserve currency based on a basket of currencies of our countries is being worked out, he said, at a BRICS business forum.
Here's what I think they're going to do.
They're going to use the digital yuan.
They've proven it works.
It's been going on now almost 10 billion in transactions.
And they will all pledge gold.
Brazil, Russia, China, India, and South Africa are the biggest holders of gold in the world combined.
They will all pledge their gold to a new digital yuan or a new digital BRICS currency on the back of the new digital yuan, the technology.
And the whole world won't convert.
Because convertible currencies convert.
DeGaulle proved that.
But they will use the distributed ledger technology to peg it and to show the veracity and the immutability of it on the ledger.
And like that, you will see all of these Eastern European countries dump dollars and go to this.
You'll see the world move to a system just like Zoltan Pozar.
Who just came out and said we are now in Bretton Woods III, a system backed by assets rather than one backed by debt.
When that happens, you'll see the world shift immediately to this new system using distributed ledger technology to back a new digital bricks currency backed by gold instead of our currency backed by $130 trillion in debt.
And I think that is the great reset moment.
I hope to God I'm wrong.
But I can't see how I am.
All of these pieces are being put into place, starting with gold being reclassified tier one.
And all of them saying, give me my gold and let's buy more.
But let's hold the price down on COMEX so we can run cover.
That's what the central bankers are doing.
And we're going to wake up one morning and see gold at levels no one can even imagine because it will be pegged to a new world reserve currency.
That was my next question, and I'm over time now, so I apologize.
But the price of gold and silver expressed in dollars is going to be meaningless because dollars will be headed to zero.
Be careful what you wish for.
Don't buy gold and silver to get rich because when it happens, everyone around you who doesn't own any is going to be hurting.
Right, right.
We're talking about the total economic collapse of the United States.
And by the way, Sri Lanka, their government just announced that they are under total economic collapse as of last night.
You know how hard it is to talk to people you care about about this stuff?
Oh, yeah.
Look, I have the same issue, yes.
None of my friends will listen to what I have to say all the way through.
But if you really are honest with yourself and look at these linear pattern events and look at what's happening, It's specifically centered around the petrodollar and the expansion of infrastructure outside the U.S. It's pretty easy to see.
The handwriting is already on the wall.
The way this works, Andy, is if you're trying to tell people before the event happens, they scream, why are you telling me this?
And then when it happens and they lose everything, they scream, why didn't you tell me this?
I've learned that a long time ago as the owner of a precious metals company.
And when you sell people gold and silver who are your friends, when it goes up, they're a genius.
When it goes down, you're an idiot.
And I get that.
But I still get online and on shows like yours and try to tell the world what I see.
And I hope I'm wrong.
I caveat it by that.
I hope I'm wrong.
When you intermix logic, economics, and mathematics and take a look at it from that perspective, it's very difficult to see any other outcome.
Yeah.
Well, I'll just add this final thought, and I'll give out your contact information.
We'll wrap this up.
I did a tweet the other day.
I said, three years ago, people were mocking me for buying John Deere tractors.
Two years ago, they were mocking me for buying gold.
One year ago, they mocked me for stockpiling diesel fuel.
Today, I have tractors, gold, and diesel, and I can grow food for almost nothing.
It's like, that's been my experience.
I get mocked the entire time, and then one day everybody's like, holy crap, we should have done that.
Well, and there's an old saying that will kind of intertwine with this and then we can wrap it up.
And they say there's no bull market like a gold bull market because every other market is centered around greed and wanting to make money.
This is a different one.
When people run to gold, it will be because they're terrified of what's coming.
And that's why being prepared and taking care of your family's future before this happens is the most important thing.
And if it doesn't happen, what's the worst thing?
You have 5,000-year-old wealth that you can pass on to your children or grandchildren.
Exactly.
You know?
Exactly.
There's no downside to doing this.
It could be an opportunity, too, Mike, because when all this blows up, there'll be lots of opportunities for people who have some dry powder.
Oh, you are not kidding.
You are not kidding.
Okay.
Well, let me give out your contact info.
Your email is info at milesfranklin.com, and you are a precious metals dealer, retailer.
You're the CEO.
Our website's milesfranklin.com, and it's crap.
We have a new one that is about 95% done.
We hope to launch it August 1st or thereabouts, which will allow people to buy online and whatnot.
But for now, send us an email at info at milesfranklin.com with any questions.
Ask for an inventory.
We'll send you an up-to-the-moment inventory with prices.
We'll make sure that your listeners get as good of a price as anywhere in the country.
And we're licensed and bonded in what is a federally non-regulated industry.
We're one of the only licensed and bonded precious metals companies in America.
We've never had a customer complaint in 33 years, and we are one of only 27 U.S. Mint authorized resellers.
Our reputation is as good as it gets, but the state of Minnesota accreditation is what It holds us to a higher standard.
I live in Florida.
I moved here a year ago, but we left our corporate office in Minnesota because of that accreditation.
Almost every other online company in America will not do business in Minnesota because they have to be licensed, bonded, and background checked every year, and it's the only state in the country that mandates it.
Oh, that's interesting.
Okay.
It holds us to a higher standard and makes the transaction that much safer.
Okay, yeah, I get it, because we have, like, we have GMP for our food manufacturing, and in our lab, we have ISO accreditation.
It's an annual audit inspection.
It's a pain in the butt, but you get that accreditation.
It matters.
Exactly the way that I would say it.
It's a pain in the butt, and it's very invasive.
I have to post my assets and back them all.
I mean, my whole financial statement has to back the CERTI bond, and they want to see it all every single year, but It is a pain in the butt, but we are held to a higher standard.
And when you realize that Over $100 million was stolen from this industry in the last several years by online companies like Tolving and Bullion Direct and Northwest Territorial Mint, huge companies that disappeared with people's money.
That little bit of added safety in a federally non-regulated industry is one of the things that we hang our hat on.
So listen, I love talking to you.
You're one of the few people who truly get it.
I would love to come back on anytime you...
Yeah, we'll do it.
And it's great to have the discussion, and I just appreciate the heck out of being here.
One last piece.
People send us that email.
It'd be great if they put, you know, hey, Mike sent me or however you want it to be addressed so that we just know where the lead came from and we can address your listeners appropriately.
Okay, you got that?
Yeah, put Mike Adams in the subject line and Andy will charge you an extra 5% on every order.
There you go.
But I appreciate it for what it's worth.
Thank you for letting me espouse my narrative.
And as a caveat, I hope I'm wrong.
But I think some of it will be right no matter how it plays out.
Some of it's going to be right.
No, Andy, I think you're exactly right.
And I'll just say it before we go.
And of course, my previous comment was a joke, folks.
We don't earn anything off of this.
Miles Franklin, Andy's not a sponsor of our network or anything.
We don't have any financial relationship.
I just think Andy is right.
I think Andy gets it.
In fact, I've got another source that has been warning me about what they call Project Sandman, which is 100-plus nations around the world have already pre-agreed to denounce the petrodollar, which is essentially what you're talking about, Andy.
And I know this is coming.
And that's why...
That's how it all...
Exactly.
Overnight.
And let me tell...
I will tell you, the audience here, you know, I... I don't worship wealth or anything, but I do pretty well in this world because I'm pretty darn productive and I produce real things and I help a lot of people.
I don't have any cash whatsoever.
I'm not keeping it.
I mean, I got enough to pay gas or whatever.
I don't have any cash left.
You know why?
Because I put it all into real things.
All of it.
And some of that's my own company.
Concrete, buildings, expansions.
Some of that's gold and silver.
Some of it's tractors, as you know.
I only own real things because I know this is coming.
I know Andy is right.
And people are going to be wiped out.
And I'm even prepping on a community scale because I'm planning to try to save a whole lot of people around me who did not prepare.
I've got food and medicine for them because I'd rather have them, you know, eating and being healthy rather than being desperate and trying to attack all of us.
There's an old saying that says assets feed you, liabilities eat you.
That's right.
So, you know, that's just assets, real things in the world of make-believe valuations around us.
I think you're on to something.
So anyways, Mike, thank you.
You're a gentleman.
It was great to be here.
And long overdue, I look forward to picking up with you and your listeners where we left off next time or whenever you'll have me back.
Or if there's ever anything that just happens where you need to get a perspective from this side of the table, I'm always eager to hop right back on.
Okay.
I've got your direct contact now, so we'll be in touch.
We'll get together again soon.
Thank you, Andy, for taking the time today and even going over time a little bit with us.
Pleasure is mine.
You stay well, and everyone out there, take it easy.
All right.
Fantastic.
Thank you for watching this today as well, and feel free to repost this interview on your own channel or your own or other platforms.
Just give credit to Andy Sheckman there at Miles Franklin, and give credit to myself at brighttown.com.
That's the free speech platform that we built so we can have conversations like this.
And get ready, folks.
Final disclaimer, don't consider any of this to be personal financial advice.
Get your own financial advisors.
Make your own decisions.
Every person's situation is unique and your risk profile is different.
So make your own decisions, okay?
But I told you what I'm doing, and Andy's pretty clear what he's doing, and we think we're going to be doing much better than most when all of this comes down.
Thank you for watching today.
God bless.
Take care.
Take care.
In this nearly eight-hour audiobook, you will learn life-saving secrets of how to use food, nutrients, plant molecules, trace minerals, and chemical compounds to save your life, even in a total collapse scenario.
I'm Mike Adams, the Health Ranger, and I'm the author of Survival Nutrition.
I founded and run a multi-million dollar food science laboratory, and I'm the author of the best-selling science book, Food Forensics.
I'm also a prepper, a patriot, and a survivalist.
I can teach you how to survive what's coming by growing your own food, medicine, and antibiotics that can help keep you healthy and alive even during the worst of times.
At survivalnutrition.com, you'll be able to instantly download the full, free audiobook as MP3 files.
▲
Export Selection